Funding you earn now, next payment 01:00 UTC−0.0128%/8h= −14.0% APRnext payment −$0.16 per $10,000 · paid last 24h +0.014%
Price spread now: Nado against Lighter−0.026%47s7-day average +0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$410.412% of the position
Funding, last 3 days (all we have)−0.139%−$14 on $10k
+Price spread, last 3 days (all we have)+0.219%+$22 · spread now −0.026%, 7d avg +0.031%
=Together, before fees+0.080%+ Points / potential airdropLighter: Season 3 · Nado: Active · farm board+$8 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Nado is 0.057% cheaper against Lighter than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.031%). Swap the legs. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSTR | 169.08 | 0.0032 | pay 0.0004% / 1h | 47m 37s | $3.6M | $2.0M | 10x |
| Short | Nado MSTR-PERP | 169.04 | −0.0096 | pay 0.0012% / 1h | 47m 37s | $139K | $97K | 3x |
Lighter MSTR
Nado MSTR-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$26.86
- Price spread: −0.026% → +0.031%
- −$5.71
- Slippage, 4 orders
- −$34.21
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$73.78
- Costs to cover
- 0.412%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 5 min ago; Nado: live order book, 25 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Lighter live order book, 5 min ago | 1.48 bp | 3.0 bp −$3 | 8.4 bp −$84 | 40.1 bp −$4,009 | doesn't fit |
| Sell Nado live order book, 25 min ago | 4.15 bp | 11.3 bp −$11 | 69.4 bp −$694 | doesn't fit | doesn't fit |
MSTR on 32 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado MSTR-PERPshort | −0.0096% | 1h | 169.04 | −0.026% | $139K | $97K | 3x | |
| Aster MSTRUSDT | 0.0000% | 8h | 169.10 | +0.010% | $1.2M | $6.1M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | 0.0000% | 8h | 169.16 | +0.047% | $21.9M | $103.7M | 50x | as long as short |
| Gate MSTR_USDT | 0.0000% | 8h | 169.14 | +0.035% | $4.7M | $18.8M | 50x | as long as short |
| Bitget MSTRUSDT | 0.0000% | 8h | 169.18 | +0.059% | $28.6M | $114.9M | 25x | as long as short |
| Variational Omni MSTR | 0.0000% | 8h | 168.96 | −0.072% | $1.2M | $2.4M | — | as long as short |
| Phemex MSTRUSDT | 0.0000% | 4h | 169.10 | +0.012% | $2.9M | $66K | 10x | as long as short |
| Lighter MSTRlong | +0.0032% | 1h | 169.08 | long leg | $3.6M | $2.0M | 10x | |
| Extended MSTR_24_5-USD | +0.0032% | 1h | 169.01 | −0.041% | $579K | $1.7M | 10x | as long as short |
| QFEX MSTR-USD | +0.0035% | 1h | 169.15 | +0.041% | $1.4M | $9.9M | 10x | as long as short |
Aster MSTRUSDT
OKX MSTR-USDT-SWAP
Gate MSTR_USDT
Bitget MSTRUSDT
Variational Omni MSTR
Phemex MSTRUSDT
Extended MSTR_24_5-USD
QFEX MSTR-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit MSTRUSDT | +0.0040% | 8h | 169.20 | +0.071% | $15.2M | $39.7M | 50x | as long as short |
| Arcus MSTR-USD | +0.0040% | 1h | 169.17 | +0.053% | $27K | $118K | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.0046% | 1h | 169.18 | +0.059% | — | $2.0M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.0050% | 1h | 169.08 | 0.000% | $397K | $2.7M | 10x | as long as short |
| SoDEX MSTR-USD | +0.0050% | 1h | 169.07 | −0.006% | $45K | $3K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.0050% | 1h | 168.91 | −0.101% | $747K | $5.0M | 10x | as long as short |
| BloFin MSTR-USDT | +0.0063% | 8h | 169.09 | +0.006% | $1.1M | $1.9M | 20x | as long as short |
| Binance MSTRUSDT | +0.0070% | 8h | 169.15 | +0.039% | $89.3M | $620.9M | 50x | as long as short |
| Coinbase International MSTR-PERP-INTX | +0.0088% | 1h | 168.75 | −0.195% | $1.4M | $1.2M | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.0090% | 8h | 169.12 | +0.022% | $68 | — | 5x | as long as short |
| Pacifica MSTR | +0.0100% | 1h | 169.16 | +0.046% | $105K | $85K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.0100% | 8h | 169.05 | −0.018% | $2.5M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | +0.0100% | 1h | 168.89 | −0.112% | $4K | $204K | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.0100% | 8h | 169.07 | −0.006% | $3K | $8K | 10x | as long as short |
| Aevo MSTR-PERP | +0.0104% | 1h | 169.08 | 0.000% | $140 | — | 10x | as long as short |
| tradeXYZ xyz:MSTR | +0.0182% | 1h | 169.13 | +0.030% | $57.1M | $35.5M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.0235% | 1h | 169.34 | +0.154% | $8K | $26K | 30x | as long as short |
| GRVT MSTR_USDT_Perp | +0.0256% | 8h | 169.19 | +0.065% | $77K | $859K | 10x | as long as short |
| Phoenix MSTR | +0.0259% | 1h | 169.17 | +0.051% | $57K | $384K | 10x | as long as short |
| RISEx MSTR/USDC | +0.0349% | 1h | 169.17 | +0.053% | $275K | $440K | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.0401% | 1h | 169.12 | +0.024% | $288K | $438K | 10x | as long as short |
| edgeX MSTRUSDC | +0.0641% | 4h | 168.94 | −0.082% | $47K | $5.5M | 10x | as long as short |
Bybit MSTRUSDT
Arcus MSTR-USD
Vest MSTR-USD-PERP
Polymarket Perps MSTR-USD
SoDEX MSTR-USD
Ondo Perps MSTR-USD.P
BloFin MSTR-USDT
Binance MSTRUSDT
Coinbase International MSTR-PERP-INTX
Paradex MSTR-USD-PERP
Pacifica MSTR
KuCoin MSTRUSDTM
ApeX Omni MSTRUSDT
Orderly PERP_MSTR_USDC_mythos
Aevo MSTR-PERP
tradeXYZ xyz:MSTR
Injective MSTR/USDC PERP
GRVT MSTR_USDT_Perp
Phoenix MSTR
RISEx MSTR/USDC
Deribit MSTR_USDC-PERPETUAL
edgeX MSTRUSDC